Word: vetoes
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With presidential veto threats hovering over many of the 13 spending bills that are needed to keep the government functioning into the new fiscal year, which begins this week, the President and the Republican congressional leadership reached a temporary truce. A compromise stopgap spending measure will fund government agencies at reduced levels until Nov. 13. It remains to be seen whether the extension will prove long enough for the President and Congress to hammer out their differences. Meanwhile, an unexpectedly fierce House g.o.p. rebellion defeated final versions of defense and environmental spending bills...
...Republicans are nervous that Democrats will score with voters, they aren't showing it yet. The G.O.P. has enough votes in the House, and probably enough in the Senate, to force through their version of Medicare. That could lead to a Clinton veto, which would free each party to go before voters next year and blame the other for failing to shore up the system...
...block the merger. The phone company, which paid $2.5 billion for its partnership interest in 1993, has for months been in stalled talks with Time Warner, which wants to restructure the terms in order to split the cable from the content companies. U S West claims it has veto power over the merger with Turner, a position that Levin dismissed last week as groundless. In a flash of irritation, the Time Warner chairman declared, "Like the weather in Denver, the negotiations [with U S West] have gotten a little frosty...
JOHN MALONE HATES IT THAT SOME PEOPLE THINK OF HIM AS A BOARDROOM bandit. The country's most powerful cable operator--whose 21% stake in Turner Broadcasting gave him potential veto power over last week's big merger--has been variously described as Darth Vader, Andrew Carnegie and Genghis Khan. Such comparisons, says Malone, have him all wrong. He's shocked, shocked by reports that he held up the merger--first by insisting that Time Warner do away with its "poison pill" takeover defense, then by demanding seats on the board--until he had squeezed all the juice he could...
...battle over Medicare is shaping up to be huge. Congressmen are engaging in shouting matches and the Democrats are threatening to hold unofficial hearings on the issue, which they will have to hold outside the Capital, because Republicans won't give them any space. Clinton is threatening to veto the budget proposal which contains the cuts, and Republicans won't pass anything but their proposal. The result of this game of chicken could be a shut-down of the federal government, if no accord is reached by the beginning of the fiscal year on October 1. That's the power...